Are You Losing Money ???

Overview For Beginners

to learn

Record Keeping

To Make Informed decisions

To comply with Legal Business

To show your Business position

To Plan Business future

To Measure Business Performance

To fulfill Your Business Requirement

Legal

Business

Records

Property

Records

Correspondence

Records

Employment

Records

Transaction

Journal

LedgerTrial Balance

Financial Statement

Maintenance of records of business transactions

Calculation Of Profit Or Loss

Depiction Of Financial Position

Provide Information to the users

Understandability

Reliability

RelevanceComparability

Liability

Equity

Assets

Cash

Accounts Receivable

InventoryPrepaid expenses

Plants

Equipment

Buildings

LandOffice Supplies

Investments

Notes Payable

Long term debt

Unearned Fees

Accounts Payable

Invested Capital

Retained EarningsSurplus

Steps For accounting Process:

1. Identify and analyze the transaction

2. Recording Journal entries

3. Posting in the ledger

4. Prepare the unadjusted trial balance

5. Make adjusting entries

6. Prepare the adjusted trial balance

7. Prepare financial statements

8. Close the entries

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